A South Hackensack industrial building has been sold to a commercial glass contractor that is moving from Saddle Brook, according to real estate firm NAI James E. Hanson.
The 4,400-square-foot property at 11 Leuning St. was sold by Larjil Realty Holding Corp. to Premier Group Holdings in a transaction handled exclusively by the firm, which has offices in Teterboro and Parsippany. Justin Allessio was the broker in charge.
Financial terms were not disclosed.
Premier Group Holdings is a commercial glass installation contractor that is moving its headquarters in order to better fit its growth and ongoing needs. It had originally begun negotiating to buy the property in late summer 2019, but was unable to reach a deal at that time, NAI Hanson said. However, after the COVID-19 pandemic, the seller relisted the property and NAI Hanson was able to reengage the parties and close the transaction.
“Despite the effects on the economy due to COVID-19, we are still seeing strong demand for industrial space in the South Hackensack market,” Allessio said in a prepared statement. “Maintaining relationships as well as being aware of market trends have always been two critical factors in our approach to client representation, but, in the midst of the pandemic, they have become even more crucial in ensuring we can help our clients find fair market value for their assets in a crowded market.”